The Source for Cyber Insurance News, Insights and Data
New Cyber Product Targets Gaps Left by War Exclusions Markel Insurance introduced a cyber insurance product that offers coverage for indirect losses caused by acts of war. The product provides up to $5 million in coverage per risk, filling gaps left by cyber insurance war exclusions. Chris Burgess, Director of Cyber at Markel International, said, … Read more
A catastrophic cyberattack on America’s critical infrastructure is no longer a question of if but when. The new Netflix series Zero Day, starring Robert De Niro, dramatizes this terrifying reality—a massive cyber onslaught that cripples infrastructure, claims thousands of lives, and plunges the country into chaos. State-sponsored cybercrime, cyber warfare, or a Zero Day cyberattack … Read more
Infostealers and Ransomware Surge as Cybercriminals Expand Tactics Cybercrime has reached “an unprecedented level of sophistication,” according to KELA’s State of Cybercrime 2024 cybersecurity report. The study highlights how cybercriminals are forming alliances, adopting artificial intelligence (AI), and exploiting vulnerabilities at a scale never seen before. A Year of Alarming Growth in Cyber Threats Infostealer … Read more
Alarming Statistics: The Call is Coming from Inside the House SecurityScorecard’s latest report reveals a staggering 58% of cyber breaches impacting top U.S. federal contractors originate from third-party vulnerabilities. This rate of federal contractor cyber breaches is double the global average and reflects serious weaknesses in managing external risks. The issue evokes the classic horror … Read more
“As of March 31, when coverage begins or is renewed, syndicates must exclude state-backed cyberattacks from policies that protect against physical and digital damage caused by hacks, Underwriting Director Tony Chaudhry said…At a minimum, Mr. Chaudhry said, policies must contain clauses that exclude losses arising from a war, declared or otherwise, where the policy doesn’t … Read more